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Chapter 14 marketing strategies
- 3. Marketing strategies legal controls Entering foreign markets
- 4. What is marketing strategy •A plan to achieve the marketing objectives using a given level of resources.
- 5. Choosing a marketing strategy • The four p’s of marketing mix are linked with each other when we talk about marketing strategy. • However how important each part of the marketing mix is in influencing consumers varies depending upon the situation. • Two factors which will be relevant to make a decision about marketing strategy are the marketing budget and the product’s life cycle stage.
- 6. Legal controls related to marketing • Protect consumers from faulty and dangerous goods • Protect consumers from getting mislead • Protest consumers from being exploited when there is little to no competition in the market
- 7. Entering new foreign markets Problems • Barriers to trade: Usually taxes, quotas or bans that one country places on the goods of other countries to prevent or increase the cost of them entering that county. • Different language & culture • Economic differences • Social differences • Different laws • No Market knowledge
- 8. Entering new foreign markets How to overcome • International franchising: reduces risk and increases sales revenue • Licensing: Apart from lack of consumer knowledge all other foreign market related risks are mitigated • Joint ventures: If successful can generate higher revenues • However, one mistake by either of the member firm will effect the whole business. Entering new markets can increase revenue, if a business was in a decline phase in their previous market they can probably get growth phase for their product or service by entering a new market.
Editor's Notes
- Notes to presenter: What is your purpose for sharing this reflection? Is it at the end of a unit or project? Are you sharing this reflection, at the attainment of a learning goal you set for yourself? Is it at the end of a course? State your purpose for the reflection or even the purpose of the learning experience or learning goal. Be clear and be specific in stating your purpose.
- Notes to presenter: Description of what you learned in your own words on one side. Include information about the topic Details about the topic will also be helpful here. Tell the story of your learning experience. Just like a story there should always be a beginning, middle and an end. On the other side, you can add a graphic that provides evidence of what you learned. Feel free to use more than one slide to reflect upon your process. It also helps to add some video of your process.
- Notes to presenter: Description of what you learned in your own words on one side. Include information about the topic Details about the topic will also be helpful here. Tell the story of your learning experience. Just like a story there should always be a beginning, middle and an end. On the other side, you can add a graphic that provides evidence of what you learned. Feel free to use more than one slide to reflect upon your process. It also helps to add some video of your process.
- Notes to presenter: Description of what you learned in your own words on one side. Include information about the topic Details about the topic will also be helpful here. Tell the story of your learning experience. Just like a story there should always be a beginning, middle and an end. On the other side, you can add a graphic that provides evidence of what you learned. Feel free to use more than one slide to reflect upon your process. It also helps to add some video of your process.
- Notes to presenter: What was important about this learning experience? How is it relevant to your course, yourself, or your society or community? Why is this significant? This SmartArt allows you add images and text to help outline your process. If a picture is worth a thousand words, then pictures and words should help you communicate this reflection on learning perfectly! You can always click on Insert>SmartArt to change this graphic or select the graphic and click on the Design contextual menu to change the colors.
- Notes to presenter: What was important about this learning experience? How is it relevant to your course, yourself, or your society or community? Why is this significant? This SmartArt allows you add images and text to help outline your process. If a picture is worth a thousand words, then pictures and words should help you communicate this reflection on learning perfectly! You can always click on Insert>SmartArt to change this graphic or select the graphic and click on the Design contextual menu to change the colors.
- Notes to presenter: What did you think at first? What obstacles did you encounter along the way? How did you overcome those obstacles? What images can you add to support your process? This SmartArt allows you add images and text to help outline your process. If a picture is worth a thousand words, then pictures and words should help you communicate this reflection on learning perfectly! You can always click on Insert>SmartArt to change this graphic or select the graphic and click on the Design contextual menu to change the colors. Feel free to use more than one slide to reflect upon your process. It also helps to add some video of your process.